Charity Registration No. 1092476 THE EDNA LINNELL CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 Prepared by.. Brachers LLP Somerfield HOse 59 London Road Maidstone Kenl ME16 8JH
THE EDNA LINNELL CHARITABLE TRUST CONTENTS Page Legal and adminislrative information Trustee report Independent examiner's report Statement of financial activities Balance sheet Notes lo the a¢count5 8-14
THE EDNA LINNELL CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustèe Brachers Trust Corporation Limited Ichrislopher Eriksson-L8e represenlingl Charlty number 1092476 Registered office address Somerfield House 59 London Road Maidslone Kent ME16 8JH Independent examiner James Francis Ensors Accounlanls LLP Incubator 2 The Boulevard Enterprise Campus Alconbury Weald Hunlingdon PE28 4XA Solicitors Bracher5 LLP Somerfield House 59 London Road Maidslone Kent ME16 8JH Investment advisors Evelyn Partners 6 Chesterfield Gardens Mayfair London W1J 580
THE EDNA LINNELL CHARITABLE TRUST TRUSTEE REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024 The trusiee represenlalive I"The Trustee") presenis Ih6ir Teport and the unauditèd linancial slalefflenls ol Ihe chdltly Ivr Ihe year ended 29 February 2024 The Trusiee has adopted the provisions of the Staternenl o., Recommendèd Practice ISORPI"Accounting and Reporting by Charilies" IFRS 1021 in pieparing Ihe annual repcirt And financial statements ol Ihe charity. The financial slalemenls have bèen prepar8d In accordance with Ihe accounting policie5 sel out in the notes lo Ihe accoun15 3niJ comply with the charily's 9overning docutnenl. the Charities Act 2011 and Accoijnling and Reporting by Charilies.. Staternenl ol RÈcomrnended Praclice app1cable lo charilies preparing their accouiils in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland published in October 2019 Trvstee of the charity The Trustee who served dLJring the yeaf and since the year end was as follows". Brachers Tiusl Corpur4ilion Litniled IA55igngd dirgcior - Mf Christopher Eriksson-Leel Bra¢hers TrLlSt Corporation Limited remain Ihp appointed Iruslee with Mr ¢hrlslopher Erlksson-Le8 iaklng an active role as assigned trLJStee represenlalive in his capacily as direclof ol BraGhers Trusl Corporation Liiniled. HE is assisted by Angela Jarvi5 who is a Trusl Manager ol Brachers Trust Corporab'on Limited Objoctives and activlties The Edna Linnell Charitable Trust's objectives are lo apply the income and Ihe whole or such parl or parls ol the capital as they In their discretion think fil. lo or lor Ihe benelil of tha Maharishi FoLind3tion IGBI or to or lor the benefit ol such other exclusively charilablp objecls and purposes in the UK or in any olher part ol Ihe world, Th¢ poli¢ios adoptéd in lurlherance ol the Edna Linnell Charitable Trvst's objeolives are to recognise the importance of the Nlaharishi Foundation as the principal objective of the charity and to SLlPPOrt other Gharifies lo whom the late Mrs Liiinell wished lo provioe grants, In particular to charities holping the relef ol suffering ol animals. The Edna Linnell Charitable Trust owned an 86 66Yo share of a tyoperly. 29 Abdale Road, Shophèrds Bush, London, which was considered lo be suilable lor Ihe prDgrÈmme ol the Maharishi Foundation. The remaining share ol the property Is owiied by The Surya TrLJsI Icharify Regislralion ND. 2918541. The property was sold on 31 Augusl 2023. The funds have been designated lor usè by the Maharishi Foundation for a new 8 property. During Ihe year. the Tru51ee conlinupd th IheiT programme ol donations, continLting lo assist the Mahanshl Foundalion. The slralegy is lo maintain a conservalive investment programme deslgned lo achieve income along with capital 9rowth in order lo sustain a long-lefm grant-tnaktri9 programme On 16 September 2020. the charity provided the Maharishi Fouftd81ion with a third party18gal mortgage of £130.000. Ongoing grants are reviewed by the Tru51ee annually and the Trustee examines requesls lor funding from differènt parts of the Maharishi Foundation. The Truslee is also aware of other charilies lo whom the lal¢ Mrs Linnell wished lo provide grants. in particular lo charities helping the relief ol suffering ol animals. and is able lo award grants lo such charilios on a ¢as& by case basis.
THE EDNA LINNELL CHARITABLE TRUST TRUSTEE REPORT ICONTINUEDI FOR THE YEAR ENDED 29 FEBRUARY 2024 Public benefit statement The Trustee Confirms thal they have releired to the gufdance contained in the Charity CoTnmi5sion's General Guidance on public benefit when reviewing ihe airns and objeciives, planning future aclivilies, and selling the granl-making p1¢Y lor the year. A¢hievements and performance During the year ended 29 Febroary 2024. the Trustee approved grant5 iolJlling £12,41012023 '. £14.85Jl The Maharishi Schoo1 received £12.410 lo lund Tianscendental Meditation ITMI in5trucllon for primary school and early year children. Revl•w of ftnan¢lal posltlon and aetlvltles The fesulls lor the year 8Te sel oul on page 6. Total income lor the year 8mounl&d lu £34,09712023. £27,253). Grants payablo of £12,41012Q23 '. £14.8551 are sel out in note 3. After accounting lor investment managemènl and r&lated ¢osls1£11,6581 an(J other cosls1£39.5S31 the fund incurred a nel deficil 01 £29.524 beforè iÉcognising nel investment porilolio gains. Realised gains of £12.376 and unrealised gains of £16,604 on the iiivestmenl porilDlio were also COgniSed in the year. There was also a gain on the sale ol Abd3le Road of £16,018 before the deduction ol conveyancing and eslale agenls lee5. Plans for Ihe future period$ The Trustee will continue to Tevièw the tru51 investmonls. in consideralion of currenl m8rkel conditions. aftor receiving and considering advice of stockbrokers. an($ sn Ihe conlexl of grant applicalions received. Reserves lincludlng Reseryes Pollcyl The Trustee Intends to build funds which should grow in real lerms in tsrd9r to provlde funds for future charilable use. The value ol the reseThes al Ihe year end was £2.461,42112023. £2.445,9471. The Trustee liev9$ thi5 lo be adequate to support the Charity's continued operalions and lo provide 8 fund for exceptional grants when they aiise from lime to lime. 11 is the Policy ol the charity to ulliinatdy maintain 'lree reserves, Ibeing Ihal eleftnI on the unrestricted resèrves which Is nol lundbng inveslmenlsl ol approximately one ytsarfs running costs. As 8129 February 2024, the free reserves ol the chariiy 8mounled lo £193.04812023.. £171,331) Thè Trustee considers Ihe closing 1ov&l as sufficient lo support thèir anticipated granl making gxpendilvie it) the following twelve months, includin9 any unforeseen urgenl charllable applications. Deslgnaled lunds at 29 Fgbruary 2024 total £2,268,37312023' £2.274,6161- s&e nole 11 for details. Rlsk management The Trustee has reviewed the masor risks lo which the charity is exposed and systems have been established io mltlgale these risks. The funds invesled and those hèld on deposit are subject lo the compliance proce(5ures of both the charity's investmenl advisor5 and Brachers LLP.
THE EDNA LINNELL CHARITABLE TRUST TRUSTEE REPORT ICONTINUEDI FOR THE YEAR ENDED 29 FEBRUARY 2024 Structure, governance and management The Edna Liiinell Charitable Trusl was eslablished and Is governed by a trust deed pursuanl lo the Will ol Edna Roseinarie L+nnell dated 20 February 1997. Edna Rosèmarie Linnell died on 6 January 1999. The trust is a registèred charily l¢harity number 10924761. The Irusl lid& a straighllorwafd Slruclure a5 il exists principally lor the PLirpose of makin9 grants lo worihy charitable causes. Delails ol the Iruslee board are ouuined on Page 2_ The Trustee considers the lutLire as well as èxi51tng inveslment Issues and donalion5. On behalf ol the Ti sle C Eriksson-Lee on behalf ol Brathers Trust Corporation Limited Oaled. &2
THE EDNA LINNELL CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF THE EONA LINNELL CHARITABLE TRUST I report to Ihe Injslee repre5enlalive on my examination of the accounts of The Edna Linnell Chafitsble Trusl lor the year ended 29 February 2024. which are sel OLJI on ptiges 6 to 34. R¢spon$iblllti6s and basls of report As Ihe Gharily TFuslee ol the Trusl wu are responsible lor the preparation ol the accounts in accoidanre wlh Ihe requiremenls ol Ihe Charities Act 2011 Ilhè'AGI'I- I reporl in respeci ol my examination ol the Tnisl's a¢¢ounts rried oul LJnd&r section 145 01 the 2011 Acl and in carrying oltl my exarnination I have followed all the applicable Directions given by 11)è Charity Comrnission undèr seclion 1451Sllbl ol lh* Act. Independènt examinerfs statement I have Gompleled my examination I conlirm that no mateTial rnatters have come lo my attention in conTreclion with Ihe examinab'on givTng me cause lo believe th81 In arTry material respecl. accounting r8cords were not kept in respect ol Ihe Trust as required by sectlon 130 of Ihe A,. or the accounts do nol accord viith those record5." or the accounts do not comply wlh the applicable requirem8nls ¢onc8ming the form and content DI accounts sel oul in Ihe Charilies (Accoun15 and Report$l Regulations 2008 011)er than any requ1men1 that the eccounls give a'lrtje and lair view, which is not a matter considered as part ol an independent examination. I have no Concerns and have mme across no other matters in connection with the examlnalion lo which allenlion should bè drawn in this report in order lo enable 8 proper understanding of the accounls to be aChed. James Francis Ellsors A¢counl8nts LLP Incubaiol 2 The 8oulévard Enterprise Campu5 Al¢onbury Wealo Huntingdon PE284XA Date..
THE EDNA LINNELL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 29 FEBRUAR Y 2024 Unrestricted Funds 2024 Unre5trlcted Funds 2023 Notes Income from: Inveslmenl income 34,097 27,523 Total incomg 34,097 27.523 Expendlture on,. Charitable aclivilies (Granls payable) Cosls ol raising funds Other cosls 12,410 11,658 39,553 14,855 11,872 20,235 Total expenditure 63,621 46.962 Net expeDdlture 129.5241 119.4391 Nel gaiiislllL)sse5) on investments Nel gains/llosse51 on property 28,980 16.018 161.1081 Net movement in funds 15.474 {80.5471 Total funds brought forward 2,445.947 2.526,494 Total funds carried folward 2.461.421 2,445.947
THE EDNA LINNELL CHARITABLE TRUST BALANCE SHEET AS A T 29 FEBRUARY 2024 2024 2023 Notes Fixed assets Investment properties Listed inveslmenls 807.253 1.461,354 1.442.707 1,461,354 2,249,960 Current assets Debtors due in less than 1 year Debtors due In more than 1 year Cash at bank and in hand 159.346 26,878 815,733 8.400 180,148 11,648 Total current assets 1.001.957 200.196 Creditors: amounts falllng due wlthin on6 yèar 10 11,890) 14.2091 Net ¢urront assets 1,000.067 195,987 Net assets 2.461.421 2,445.947 Charlty funds Designated fund5 General funds 11 2,268.373 193.048 2,274,616 171,331 Total ullrestricled tunds 2,461.421 2,445,947 The accounts were approved by the Trustee on C Eriksson-Lee on behall of Brachers Trust Cofporalion Limited Trustee
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FE8RUAR Y 2024 AccoLinting policies General information and basls ol prepar3t¢on The Edna Linnell Charilable Trusl is a chafily registered with the Chaiily Cornmission in England and Wales Iregi51ered number 10924761 Th@ address ol Ihe registered office is given in the charity information on page l of these financial Statements The nature ol Ihe chaiity's operations and Principal aclivitiès are lo recognise the imporianre ol Ihe Maharishi Found8llon and lo support Ihai charitable org8nisation and 0lh8r charilips wlh aitns and objeoliwes with which the original Selllor Ilhe late Mrs Linnelll woiild have been In agreemenl based on her legacy wishes. The charity coiistitute5 a public benefli enlily as defined by FRS 102 Th8 financial statements have bpp.n ijrepared in accordance with Accounting and Reportlng by Charities." Sialement of Recommended Pra¢lice applicable lo charities pieparing Imeii accounts in accordance with the Financial Reporting Standafd applicable in l)e UK and Republic ul Ireland IFRS 1021 Issued In 2019, the Financial Reportlng Standard applicable in Ihe Uniled Kingdorrt and RepLJblic ol Ireland IFRS1021. the Charilies Act 2011 and UK Generally Accepted Praclice Th8 charity ha5 opted nol ID prepare a cash Ilow sialemènl lor Ihe financial period, as permilled by the 2019 Slalemenl of Recommendpd Practicp_ The financial slal8menls have been prepa18d lo give a 'lrue and lair view and have departed Iroin Uie charilies (Accounts and Reports) Regulation5 2008 only lo the extent reqtsid 10 provide 3 'lrue and fair vièw,. This departure has Iiivnlveil lollowng the Accountin9 and RepDri..ng by Charilies.. Statement ol recomniended Praclice applicable lo charilie5 preparing their accounts sn a¢coTdance th the Financial Repcsrting Standard appIlble in the UK and Repliblic ol Ireland IFRS 1021 Issued in 2019. rhe financial slalemenls are prepared on a going concern b8si5 under the historical cosl convention, modified lo include ceriain iieins ai fair value The financi&l siai&rnenls are presenied In Sterling wliich is the luncts'onal currency of the charity and rounded lo the nearest E. The significant accounllng policies applied in the preparation ol these financial stalemenis are set out beSow. These policies hav8 been consislentty applied lo all years presented unless othenvise slated Funds ThÈ funds held by the charity èfe unrestricted funds which can be used in a¢cor¢Jance wilh the charitable objeclives al Ihe discretion of the Trustee. Dèsignated fund5 cornprise funds which hav¢ b?en sgt aside al the discretion of the Trustee for specific purposes The purposes and uses ol Ihe designated funds are Sel oul in Ihe notes to the financial slalernents Income rgcognltion Donaiion5, legacies and olher loims ol volunlary incotne arg recognised as income when receivable, except insofar as Ihey are incapable of Iin3ncial mea51Jrernenl. Income Irom investments is recognised vthen receivable. Expenditure recognition All expenditre is accounted for on an accruals basis and has been cl8ssified under headings that aygregate all costs related lo Ihe category. Grant expenditure Is recoyiiised when awarded lo the recipient. The expense is Included on an accruals basis in the year in which a legal or nStruCtive obligatn lo pay Ihe grant arises Co515 0118ising funds are Ihose investmenl managÉnieni lees loi boih income gèneratioD and capital mainiènAnce Charitable activities include expenditure associated Wilh Ihe making of grant5 and donations and inclutje both th8 difecl costs and ii)direcl cosls relating lo these 3Clivities. on an accruals basis
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 29 FEBRUAR Y 2024 Expenditure recognlllon Icontinuedl IrTecoverèble VAT is charged against the category ol resource expended for thich it was Incurd. Investmoni Properties Inveslmenl properiies lor which lair value can be measured reliably withoul undue cost or eHort are measured at lair value al each roporting dale changes in lair value rècognised in'nel gaiiislllos5e&l on inve5tmeniS' in the Statenienl ol Financial Aclivilies ISOFAI. A Trustee opinion of fair valuè Is provided where il is believed Ihal Ihe benefit of oblainlng an independenl valLtaliDn Would be exceeded by the lime andlor cost of securing such valL*alion. Investments Investmenis are recognised 81 fair value wthich is normally the Iransaetion price èxcludin9 transaction cos15. Sub5equenlly they are mèa8ur&d al lair value with changes recognised in 'nel gains1105ses on inveslmenls, in Ihe SOFA if shares are publicly traded or their fair value can otherwise be mèasured r91iably. Realised profits and 10s5es arising on invaslmanl disposaSs are recognised in the SOFA when th6 pro¢&eds are r1VablE. Prograrnme relale(S investment$ 3re included al loan inveslmenl cost less planned r8paym8nls by the chari18ble beneficiary, less any provision lor diminishing value, or impairrnenl. Deblors and credrtors ractlvable I payabl• within one year Deblors 8nd credilors wlh no Slated inleresi rai& and racÈivable or payable Mthin onè year are recorded at Iransaclion price. Any losses arising from impairmenl are recogni5ed in expenditure. Impairm¢nl Assets not measured al lair value are reviewed lor any indication that the asset may be impaired 31 each balance sheel dale. Ir such indicalion exists. thc r¢cov8rable 8movnl ol the ass81. or thÈ asset's cash generating Utiit Is estimated and compared lo the carrying arnounl Where the carrwng amount exceeds Ils re¢oveTable amount. an impairJnenl10ss is recognised in profil or loss unl¢ss Ihe assel is Carried al a revalued arnount where Ihe irnpaimenl loss15 a revaluation decrease Tax The Gharlly 1$ an exempl charily wilhin the meaning ol schedule 3 of the Charities Act 2011 and is considered lo pass Ihe lesls sel out in ParAgraph 1 Schedule 6 Finance Aci 2QlO. 1.10 Golng Conc8rn The financial 51alernenls have been prepared on a going ¢Dn¢ern basis as Ihe Trustee bèlieves that no maiersal un¢ertainlies exist. The Triislee hes considered the level of funds held and the expe¢ted level of income and expenditure ftsr 12 months from aulhorising these fin3ncial slatemenls. They believe the anlicipaled expenditure will be adequately luncled given the existing level ol reserves for Ihe chèrity lo be able lo continue a5 a going concern. 1.11 Judgements and key sources of estim¥tTron uncertainty In the application ol the charity's accounting policies, the Truslee is required to make judgements, estimates and assumptions aboul Ihe carrying amount ol assets and Iiabililies that are not readily apparent from other sour¢es. The eslimaies and associaled assumptions are based on historical experience and other facloT5 that tre considered lo be relevant. Actual results may differ Ironi Ihgse estimales. Historically 8reas ol judgemenl have nol had a m8lerial impact on the charity'5 finantsal slalernenls. The estimales and underfying 855umplions 8re reviewed on an ongoing basis Rev15ion5 to accounting estimates are recognised in the periDd in which the esbmate is revised where the revlsion affects only Ihal period, or in the period ol the Tevision and future periods where tha rèvision affects both CUTrenl and future perfods.
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 29 FEBRUAR Y 2024 Investment income 2024 2023 Income from listed investments Interest receivable 25,963 8,134 21,422 6,101 34,097 27,523 Expenditure 2024 2023 Charitable actlvlties Grants lo inslilulions Maharishi Foundation 12,410 14,855 12.410 14,855 Reconciliation of grants payable Commitments al year end CommilmewJls made in the year Grants paid during the yea 12,410 112,4101 14.855 (14.8551 Con)milmenls al year end Costs of raising funds Investment managers, fees LEI number 11,586 72 11,800 72 11,658 11,872 10-
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 29 FEBRUAR Y 2024 2024 2023 Expenditure l¢ontinu¢d} Other costs Management, adminislralion and accounts production Independent examinalion fees Independenl examinations fees - reimbursed from Azels Property costs Withholding lax Estate Agents Commission Conveyancing lees 22.903 1,890 16601 689 73 12,349 2.309 17,668 1,800 691 76 39.553 20,235 Total 63,621 46,962 Trustee and key management personal remuneration and expenses The Trustee lor any persons connected with them) did not receive or waive any remuneration during the year. The Trustee (lid not have any expenses reimbLirsed during the year. During the ye8r the Irusl was charged £22,90312023'. £17.6681 for legal advice, accounts prodLtclioii, and day lo day adminislration by 8rachers LLP. a firm of solicitors, of which Mr C Eriksson-Lee Ilrustee represenlalive during Ihe yearl was a partner. Al the year end the trust owed £nil {2023.' £2.409) 10 Brachers LLP. Employees There were no employees during the year. Investment properties Land and bulldlngs Fair valuè At 1 March 2023 ai)d al 29 FebrLt8ry 2024 The most fecenl open maTkel valualion of the investment property lan 86.66°/fr share in 29 Abdale Road, Shepherds Bush, London) was made in September 2015. The property was sold 31 August 2023. Thè charity received £823,270 before the deduction of conveyancing and eslale agenls lees which are included in nole 3. The property was used on a renl free basis by Ihe Maharishi Foundation.
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 29 FEBRUAR Y 2024 Listed investments 2024 2023 Market value Disposal proceeds Acquisitions al cost Realised gains on inveslmenls Unrealised gainslllosses) on investments 1,423,685 (533.4471 505.295 1,481,763 143.9441 46.974 12.375 16.605 1,000 {62,1081 Net gainsllloss8s} on inveslmenls 28.980 161.1081 arket value at year end 1,424,513 1,423,685 Cash held for inveslmenl 36.841 19,022 Market value at year end 1.461.354 1,442,707 Historical costs of inveslmenls 1.244.678 1,260,746 The portfolio was comprised as follows-. Equities Fixed Snleresl Securities Allernalive A55els Casli 698.889 111,970 613,654 36,841 593,255 121.974 708,456 19,022 1,461,354 1.442,707 Material inve51menls (comprising more than 5.10 of the charity's overall share portfolio by value) al 29 February 2024 were as follows". Lionlrusl Special Situations Loomis Sayles G1ubal Growlh Guardcap Global Equity Fundsmilh LLP T Bailey Fund Evenlode Income C Dis 87.848 84.045 82.494 91,739 90.038
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS ICONTINUED) FOR THE YEAR ENDED 29 FEBRUAR Y 2024 Investment Propertles 2024 2023 8ook value of property Disposal proceeds Realised gains on property 807,253 1823,269 16,078 807.253 Book value of property 807,253 Debtors 2024 2023 Arnounls due in less than one year.. 159.346 8.400 Amounts due in more than one year: Other debtors Loans receivable 14.870 165.278 26,878 26,878 180,148 The orlginal loan was made lo 11)e Blackthorn Trust in 2013 and was lor £105,171. 11 was mède on an interest free basis and remains repayable over 20 years, A further amount of £7,906 was added lo Ihe loan in 2016. repayable over the existing term of the loan. As of 30 November 2017, B sum of £700 is lo be repaid monthly. The loan is secured over the freehold property owned by the Blackthorn Trust. The investment funding was made lo further the Trust's charitable aims and to enable Ihe advancement of the ¢h8ritable purposes of the Blacklhom Tiusl. The Blackthorn Tfust is a iegislered charity (No. 11179791 providing modi¢al care, specialist therapigs rehabililalion lo people with menlal and physical health difficulties or lea¥ning difficulties. aiming to assist individuals lo progress towards their full polenb'al. On 6 September 2019, a loan wa5 made to the Maharishi Foundation for £130.000. Interest is harged al a rale of 4.5'/0 per annum, to be paid in cash on lerminalion of tho loan. The loan is secured on the following property. The Peace Palace, Gardenia Close. Rendlesham, Woodbridge, Suffolk, England. 10 Creditors.. amounts falling due within one year 2024 2023 Other creditors 1,890 4,209 1,890 4.209 13
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 29 FEBRUAR Y 2024 11 Designated funds 1 March New Deslgnations 2023 designations released 29 February 2024 Property fund Property fLJnd {cash held) Investment fund 807,253 1807.2531 808,612 534,275 80EI,612 1,459,761 1,467,363 1541.8771 2.274,616 1.342,887 17,349.1301 2.268,373 1 March New Designations 2022 de51gnations released 28 February 2023 Property lund lnvestme.nl ILind 807,253 1,533.841 807,253 1,467,363 114,1341 152,3441 2.341,094 114,1341 152,3441 2.274.616 Property fund - this fund held a share in the inveslmenl properly which wa5 used by the Maharishi Foundalioii. The investment property has been disposed of in the year. Investment fund these lunds are invested lo maximise lolal return and generate nel income. 12 Related parly tran5action$ The charity did not enter Into any related party Iransacliotks duriiig Ilie year12023." £nil} other than those slipulaled in note 4. 14